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Woolworths downplays property sale rumours


Supermarket retailer Woolworths insists it has not yet made a decision on whether to sell more of its multi-billion-dollar property portfolio.

The company on Friday responded to media reports that it had well-advanced plans under its belt to spin off a $1 billion property fund.

Woolworths said it had divested $500 million of property assets in the 2011 and 2012 financial years and reiterated it was still looking at options for further divestments.

Options included single and portfolio property sales, an initial public offer, and an in-specie distribution.

"While Woolworths continually looks at options, no decision has been taken on the divestment of property assets at this stage," it said in a statement.

"Any decisions Woolworths makes will be shaped by the objective of delivering value to our existing shareholders."